The Fed just added an historic amount of new cash: $105 billion in one morning. Some technical indicators flash "buy." Odd-lot shorts are high; the put/call ratio is high; the VIX is high; and all 30 Dow stocks fell.

BUT the commercial paper yield curve is inverted and corresponding credit spreads are at an historic level.

Gutsy technicians could nibble at this market; wimpy fundamentalists will join me on the sidelines.